Top Edtech Companies Leading the Educational Revolution
The Importance of Edtech Companies
The Edtech industry is one of the fastest-growing industries in the world.
The growth of Edtech companies has been exponential over the last few years and it does not seem to be slowing down any time soon.
The global education sector is worth $2 trillion and almost all that money goes to traditional brick-and-mortar schools.
As more people look to alternatives like Edtech startups, these companies have been able to provide innovative solutions for learners around the world.
Edtech startups have been able to do this because they are not constrained by legacy systems or infrastructure; that has allowed them to innovate and provide new learning methods for students around the world.
The Edtech industry is growing and has created more jobs than any other sector in the United States.
The U.S. Department of Labor states that there are 19,000 people employed in the Edtech industry. With a growth of 61% between 2010-2016 and more than 27,300 jobs will be available by 2025.
Of those 19,000 people employed in the Edtech industry, there are 5,300 software developers working in companies like Khan Academy and the American Academy of Arts and Sciences.
Why Investing in EdTech Startups is Worth It?
There is a growing need for education in the world, but not enough teachers to teach all the students. As a result, many educational institutions are turning to Edtech startups for help. There are many reasons why investing in Edtech startups is worth it. Some of these reasons include:
– The potential of Edtech startups to solve problems related to education and technology
– The ability of Edtech startups to create an impact on the world’s future workforce
– The rapid growth of Edtech startup funding in recent years
– The opportunity for many investors to take part in the global market
As a result of this growth, many educational institutions are turning to Edtech startups for help.
In 2018, Edtech startup funding exceeded $1 billion globally, up from $330 million in 2016.
Edtech startups can offer a unique opportunity for investors who want to be on the ground floor of a market that promises to grow at an exponential rate.
As a result, accredited investors should seek out the opportunities that Edtech startups present, as they should do for any other startup industry.
“Edtech startups are beginning to look like a new sector with some similarities to the mobile tech sector in terms of its rapid growth and technological innovation.”- Forbes.com
“Edtech startups are growing at a rapid pace because they play an important role in a growing global market.”- Entrepreneur.com
The 7 Edtech companies that have contributed to the best innovations in education
1. Duolingo – English, Spanish & French
Duolingo is an app for learning languages that has more than 300 million downloads and is the most downloaded education app in the world.
The Application has three main features:
– It teaches you a language by giving you lessons in vocabulary, reading, listening, and writing.
– The app gamifies your experience by awarding you points for correct answers and giving you a sense of accomplishment when you level up.
– It is available in 31 languages with more being added regularly.
2. Udacity – Massive open online courses
Udacity is a company that offers Massive Open Online Courses (MOOCs) in the form of videos, quizzes, and projects.
They offer courses in different fields like computer science, data analysis, and machine learning.
Udacity also offers Nanodegree programs which are intensive programs that teach students how to build specific skills.
Udacity has partnerships with companies like Google, Facebook, and Microsoft so their employees can take MOOCs for free.
3. Coursera – Massive open online courses
Coursera is an online education platform that offers Massive Open Online Courses (MOOCs) in a wide variety of subjects.
MOOCs are becoming increasingly popular as they offer a more affordable way to get a higher education degree.
Coursera provides courses from universities such as Stanford and Yale, which means that students can have access to the same quality of education for a much lower price.
Coursera is also very flexible with its payment options, which makes it easier for people who are just starting out in life and don’t have a lot of money to invest in their education.
4. Khan Academy – Free educational videos on a variety of topics
Khan Academy is an educational organization that provides free educational videos on a variety of topics. Started in 2008 by Salman Khan, it has grown to include 5,000+ videos and 1,000+ courses.
The website features short lectures in the form of YouTube videos. These lectures are usually around 10 minutes long and cover a wide range of topics including math, physics, finance, history, and more.
Some courses also have accompanying practice problems to help students learn the material better.
The Khan Academy is an online educational platform where anyone can learn anything for free: from math to art history to computer programming.
Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom.
5. Google Classroom – Designed for teachers and students to use together in school and at home
Google Classroom is an online platform for teachers to manage their students’ work, create assignments and provide feedback. It also provides students with a space to collaborate and get feedback on their work.
The Google Classroom AI helps teachers in the classroom by assisting them with grading assignments, providing feedback, and keeping track of student progress.
The AI can also be used at home by parents who want to keep track of their children’s progress.
Udemy is a platform that offers over 45,000 courses in a variety of subjects. The courses are taught by experts and are available for anyone to take.
Udemy was founded in 2010 and has grown exponentially ever since. It’s the world’s largest marketplace for online education with over 40 million students from around the world.
Blackboard is a software company that provides educational technology to universities and colleges.
It was founded in 1997 by Michael Chasen, a computer scientist and college professor, who was frustrated with the administrative burden of managing his campus’s computer lab and giving out passwords to students.
Blackboard has over 2,300 university partners and 33,000 institutions using its software.
It offers a suite of products to support educational needs. These include student portals that provide students with secure access to their course materials and instructors as well as learning management systems (LMS) which allow institutions to manage course content and instruction across locations.
The future is bright for EdTech entrepreneurs and innovators. As more people realize the importance of education and its impact on the economy, there will be an increasing demand for better, more affordable education.
This will provide a great opportunity for entrepreneurs who are willing to take risks and develop new solutions.